NoOnes Exchange
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anchored·2epqaq…J4ATSummary
NoOnes is a peer-to-peer cryptocurrency marketplace launched in 2023 by Ray Youssef, co-founder of the now-defunct Paxful exchange. The platform operates across 190+ countries, reports 2.5 million users, and is headquartered in Dubai. It carries significant reputational and structural risk owing to a confirmed $7.9 million hot-wallet exploit in January 2025, the founder's DOJ indictment on AML charges stemming from Paxful, and Youssef's subsequent forced departure from the CEO role in February 2026 under undisclosed legal circumstances.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(15 events)
February 2015
Paxful P2P Bitcoin marketplace founded by Ray Youssef and Artur Schaback. The platform would later be found to have operated without required AML controls from this date forward.
IRS Criminal Investigation / DOJSeptember 2016
Ray Youssef and Artur Schaback arrested in Miami Beach with an AR-15-style rifle, cocaine, and hashish. Charges were subsequently dismissed.
CoinDeskFebruary 2017
Ray Youssef arrested in Tallinn, Estonia on suspicion of drug trafficking; later admitted to a guilty plea on a drug-related offence in Estonia.
CoinDeskApril 2023
Paxful shuts down its peer-to-peer marketplace citing regulatory challenges and internal co-founder disputes.
CoinDeskNovember 2023
Ray Youssef named CEO of NoOnes, a peer-to-peer financial communication app founded to serve global emerging markets.
The Block8 July 2024
Paxful co-founder Artur Schaback pleads guilty to conspiracy to fail to maintain effective AML programs at Paxful.
IRS Criminal Investigation2025
NoOnes hot wallets on Ethereum, TRON, Solana, and BNB Chain begin to be drained by attackers. Approximately $7.9 million is stolen over the first two days of January 2025.
Merkle Science / Crypto.news24 January 2025
On-chain investigator ZachXBT publicly discloses the NoOnes hot-wallet exploit via Telegram, revealing hundreds of structured transactions and Tornado Cash routing.
Crypto.news12 February 2025
CEO Ray Youssef publicly acknowledges the $7.9 million exploit in a video, attributing it to a Solana cross-chain bridge vulnerability — approximately six weeks after the exploit occurred.
Merkle Science9 December 2025
Paxful Holdings, Inc. pleads guilty to three federal criminal counts including Travel Act violations, operating an unlicensed money transmitting business, and BSA AML failures. Faces $112.5 million in guidelines penalties, reduced to $4 million based on inability to pay.
IRS Criminal Investigation13 December 2025
DOJ indicts Ray Youssef in the Eastern District of California on charges of conspiring to violate the Travel Act, operating an unlicensed money transmitting business, and conspiring to evade BSA AML requirements at Paxful.
Yahoo Finance / BeInCryptoDecember 2025
FinCEN issues $3.5 million civil penalty against Paxful Inc. and Paxful USA Inc. for willful BSA violations covering February 2015 to April 2023, including enabling over $500 million in suspicious transfers.
FinCEN Consent Order20 February 2026
NoOnes confirms Ray Youssef has stepped down as CEO under undisclosed legal circumstances. The company states he no longer participates in management, operations, or decision-making. No successor is publicly named.
TechPoint Africa / WeeTrackerDecision Log
- hash: CgbFnoF7NEg7mFMdAQ6S3j4ED3684dURSd24HhhSQuw7
- hash: 5kafxB3wmUeAv6EshCGd54Dnf8iBn8zdp6kJxW96ETkX
- hash: ZGKNY6jG95ddGN1ZbznTSgdRkXBFj58haByAqQHkv93
This investigation is cryptographically anchored to the Solana blockchain (3 events). 21 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/8/2026, 5:10:53 PM
last updated: 8/25/2026, 10:28:55 PM
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